Recent 8-K filings for AFCG
Highest-materiality recent filing
Advanced Flower Capital completes conversion from REIT to BDC effective Jan 1, 2026
- Company now regulated under 1940 Act as BDC; investment flexibility expanded beyond real estate-backed loans.
- New investment advisory agreement with AFC Management LLC replaces prior 2021 management agreement; base management fee 1.50% of avg gross assets, incentive fee with 6% hurdle and 17.5% catch-up.
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Advanced Flower Capital reports Q1 NII of $0.21/share, NAV rises to $7.90; authorizes $5M buyback
GAAP NII $4.8M ($0.21/share); net increase in net assets from operations $11.4M ($0.49/share)
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AFC expands revolving credit facility to $80M with $30M new commitment from existing lender
Eighth Amendment increases revolver commitments by $56M to $106M temporarily, then resets to $80M after April 10, 2026.
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Advanced Flower Capital Q4 GAAP net income $0.9M; full-year net loss $20.7M; declares $0.05 dividend
Q4 GAAP net income $0.9M ($0.04 per share); Distributable Earnings $(2.8)M ($(0.12) per share).
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Advanced Flower Capital enters $20M unsecured revolving credit agreement with affiliate TCGSL LLC
Credit agreement provides $20M aggregate commitment, matures August 1, 2028.
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Advanced Flower Capital amends credit facility to facilitate REIT-to-BDC conversion
Sixth Amendment to Loan and Security Agreement executed Jan 13, 2026, effective Dec 31, 2025.
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Advanced Flower Capital completes conversion from REIT to BDC effective Jan 1, 2026
Company now regulated under 1940 Act as BDC; investment flexibility expanded beyond real estate-backed loans.
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AFCG Q3 2025: GAAP net loss $12.5M; shareholders approve REIT-to-BDC conversion
GAAP net loss of $12.5M ($0.57/share); Distributable Earnings of $3.5M ($0.16/share).
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Advanced Flower Capital shareholders approve conversion to BDC, expected Q1 2026
Shareholders voted 13.2M for, 0.5M against to approve new 1940 Act-compliant investment advisory agreement.
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AFC reports Q2 GAAP net loss of $13.2M; proposes conversion from REIT to BDC
Q2 GAAP net loss of $13.2M ($0.60 per share); Distributable Earnings of $3.4M ($0.15 per share).
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Advanced Flower Capital expands revolving credit facility to $50M with additional $20M commitment
Credit facility increased from $30M to $50M via $20M additional commitment from existing FDIC-insured bank.
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Advanced Flower Capital shareholders reelect Robert Levy, ratify CohnReznick as auditor
Robert Levy reelected as Class II director with 4,985,845 votes for, 31,513 withheld, and 8,459,980 broker non-votes.
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Advanced Flower Capital Q1 GAAP net income $4.1M ($0.18/sh); distributable earnings $4.5M ($0.21/sh)
GAAP net income of $4.1 million ($0.18 per basic share) for Q1 2025.
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Advanced Flower Capital terminates unsecured revolving credit agreement with affiliate AFC Finance
Terminated unsecured revolving credit agreement dated Dec 17, 2024 with AFC Finance, LLC, wholly-owned by Chairman Leonard M. Tannenbaum.
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AFC renews senior secured credit facility with $100M expansion option, maturity extended to 2028
Credit facility renewed with lead commitment from FDIC-insured bank >$75B assets.
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Advanced Flower Capital Q4 2024 GAAP net loss $1.0M; distributable earnings $0.29/share
Q4 2024 GAAP net loss of $(1.0) million or $(0.05) per basic share.
Earnings & guidance
Materiality & sentiment trend
Max materiality 0.85 · Median 0.60 · Most common event earnings